Published on 2/28/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.11 million callable contingent coupon notes on Russell, Nasdaq, Dow
Chicago, Feb. 28 – Barclays Bank plc priced $2.11 million of callable contingent coupon notes due Aug. 5, 2027 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.1% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that month.
The notes are callable at par on any quarterly valuation date starting.
The payout at maturity will be par unless the least performing index’s final level is less than its barrier level, 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | Russell 2000, Nasdaq-100 and Dow Jones industrial average
|
Amount: | $2,106,000
|
Maturity: | Aug. 5, 2027
|
Coupon: | 10.1% per year, payable quarterly if each index closes at or above coupon barrier level on valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless least performing index’s final level is less than barrier level, in which case 1% loss for every 1% that least performing index declines from initial level
|
Call: | Callable at par on any quarterly valuation date
|
Initial levels: | 1,962.731 for Russell, 17,642.73 for Nasdaq, 38,654.42 for Dow
|
Coupon barrier levels: | 1,373.91 for Russell, 12,349.91 for Nasdaq, 27,058.09 for Dow, or 70% of initial levels
|
Barrier levels: | 1,373.91 for Russell, 12,349.91 for Nasdaq, 27,058.09 for Dow, or 70% of initial levels
|
Pricing date: | Feb. 2
|
Settlement date: | Feb. 7
|
Agent: | Barclays
|
Fees: | 0.6%
|
Cusip: | 06745PQR5
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.